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[Apha Biz=(Chicago) Reporter Paul Lee] Choi Sung-hwan, president of SK Networks (photo), the third generation of SK Group's family members, is recently buying a large number of treasury stocks, drawing keen attention to the background.
Choi, the eldest son of former SK Networks Chairman Choi Shin-won, is interpreted the aggressive purchase of his own shares as an expression of his will to transform SK Networks into a state-of-the-art industry-specialized investment company through independent management that is not subordinate to SK Group's business strategy.
According to the Financial Supervisory Service's electronic disclosure system on the 15th, Choi spent some 1.17 billion won this month alone to buy 155,608 shares of his own shares in the market. As a result, Choi's stake rose to 3.10%.
Choi has been steadily purchasing treasury stocks since he participated in the company's management as an in-house director last year. As a result, Choi's stake rose steadily from 1.89% at the end of 2021 to 2.63% at the end of 2022 and 2.87% at the end of June this year, before rising sharply to 3.10% in the second half of this year.
The stock price of SK Networks has recently exceeded 7,000 won, the highest in three years, but Choi is increasing the amount of stock buying.
Since June this year, the amount of money spent on stock purchases has exceeded KRW 4.5 billion.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
